Alexander Hamilton Thought that Debt was a Good for the Country

The bankers who loan the money to finance the government are the beneficiary of debt. The government that borrow money from the bankers become debtors and the people become perpetual debt slaves. Hamilton represented the best interests of the bankers, not the people.

When the National government assumed the war debts of the states, Hamilton was able to turn sovereign states into debt slaves and the National government into a collection agency for the London bankers.